For now, bitcoin isn’t adding much to Square’s bottom line, though the payments firm is still beating Wall Street’s expectations. The company said it earned an adjusted $0.08 per share in the fourth quarter, beating the expected $0.067. Revenues of $282 million also topped the Street’s estimates.

"It’s also smart on Square’s side because they’re first to the debate," Dolev explained toBusiness Insider. "It kind of epitomizes, without naming names here, that some of their competitors are stuck in the past whereas Square is forward thinking."

"We say Square are the Amazon of payments because they are on their way to becoming a much bigger part of the overall financial ecosystem than they are today," Dolev said. "Why can’t they disrupt some of the legacy HR and payroll providers? It’s just software. Once you’re sitting there and already own the point-of-sale system, you can bundle it with services that are helping businesses run on a day by day basis."